Negative Rates Push Japan Banks Toward February's Nadir: ChartBy
Japanese banks tumbled on Monday, and are trading close to the cheapest on record amid speculation that the central bank will take interest rates further below zero to combat a stronger yen. Members of the Topix Banks Index are trading at about 0.44 times the book value of their assets, close to 0.4323 reached on Feb. 12, which was the lowest since at least 1993, according to data compiled by Bloomberg. Banks are the worst performers on the benchmark Topix this year as negative rates threaten to squeeze loan profitability.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- ‘No Cash’ Signs Everywhere Has Sweden Worried It's Gone Too Far
- European Stocks Falter After Asia Rally; Oil Rises: Markets Wrap
- Boom Turns to Bust for Millennials Across Advanced Economies
- How One of the Most Profitable Trades of the Last Few Years Blew Up in a Single Day
- Singapore Plans to Boost Goods and Services Tax to 9%